ALTANA Marks Double-Digit Growth in 2024

ALTANA achieved double-digit growth in the 2024 fiscal year while once again making significant investments in the future. The company increased its sales by 16% to €3,169 million (previous year: €2,742 million).

One growth driver was heightened demand for ALTANA Group solutions, which far outpaced overall market growth. Acquisitions completed in the fall of 2023 and in January 2024 also contributed to this increase.

Adjusted for acquisition and exchange-rate effects, sales rose by 7%. Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 27% to €490 million (previous year: €385 million), despite substantial costs related to integrating the acquisitions. This improvement was primarily fueled by the significant sales increase. The EBITDA margin reached 15.5% (previous year: 14.0%).

In 2024, ALTANA increased its already high research and development expenditure by a further 8% to €213 million. This corresponds to 7% of sales, remaining well above the industry average. At the same time, the company invested €180 million– 30% more than in the previous year – in sites, digitalization, and sustainability.

“The year 2024 has once again demonstrated: our innovative and financial strength, the acquisitions and investments made, and, above all, the resilience of our business model – proven over many years – position us ideally,” said Martin Babilas, the CEO of ALTANA AG. “Our ability to achieve double-digit growth under persistently challenging market conditions is primarily due to the performance and dedication of our employees worldwide. We will continue to build on our strengths as an innovation-driven, customer-oriented, decentralized specialty chemicals group, investing in the future regardless of economic fluctuations.”

In 2024, ALTANA continued to drive the expansion of its global site network across all divisions. At its headquarters in Wesel, detailed planning began for a state-of-the-art innovation, laboratory, and seminar complex, with an investment of €25 million.

In the fall, the company opened a new plant for wire enamels in Zhuhai, southern China, with a total investment exceeding €20 million. Additionally, ALTANA acquired land in India for a new, cross-divisional site and invested in increasing the capacity of its U.S. facilities in Connecticut and North Carolina.

In 2024, ALTANA took a significant step forward in its commitment to climate protection. The company pledged to operate virtually greenhouse gas-free worldwide by 2050, aiming for net zero emissions. This commitment extends across the entire value chain (Scope 1 to 3). Between 2014 and 2023, the specialty chemicals group had already successfully reduced greenhouse gas emissions within its direct sphere of influence (Scope 1 and 2) by approximately 70% globally.

In 2024, all ALTANA divisions contributed to the company’s growth. The largest division, BYK, saw an 11% increase in both nominal and operating sales, reaching €1,337 million. ECKART achieved sales of €434 million, marking a 24% increase. The acquisition of the Silberline Group in January 2024 had a positive impact in particular. Adjusted for acquisition and exchange-rate effects, sales grew by 5% compared to the previous year.

ELANTAS, the supplier of electrical insulation materials, recorded a 28% increase in sales, reaching €878 million. This growth was primarily driven by the integration of the Von Roll Group, acquired in September 2023. Adjusted for acquisition and exchange-rate effects, sales were 4% higher than in the previous year. ACTEGA increased its sales with sustainable solutions for the packaging and graphics industry by 5% to 519 million euros.

In 2024, demand increased across all sales regions, with global sales boosted by recent acquisitions. Europe remained the strongest sales region, with sales rising by 13% to €1,172 million. Adjusted for acquisition and currency effects, the increase amounted to 2%.

Business in Germany grew by 15%, with a 3% increase in operational terms. Sales in the Americas were up 12% (4% in operational terms) to €886 million. The U.S. market saw an 11% increase, with operational sales remaining at the previous year’s level.

Asia recorded the strongest growth. Sales in the region rose by 22% (17% operationally) to €1,054 million. In China, ALTANA achieved a sales increase of 20% (15% operationally), while the growth market of India saw a 21% rise (13% in operational terms).

At the end of 2024, ALTANA employed 8,382 people worldwide, 443 more than on Dec. 31, 2023, mainly due to acquisitions.

For 2025, ALTANA does not expect any fundamental changes of the overall economic conditions and therefore anticipates moderate global economic growth at a level on a par with the previous year. In this still challenging environment, ALTANA forecasts operating sales growth in the mid-single-digit percentage range and a further improvement in earnings profitability, mainly due to stable product demand.